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Dec 18, 2012
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ron johnson of jcpenney. this is a company that had a tremendous number of blunders right out of the gate with just overall optimistic sales and earnings guides. i have no idea why anyone in a turnaround company would have sales or earnings guides. last quarter 26% decline in comp store sales, really had people wondering if this could ever be turned around. the one defense i must mention. i must mention this to you, tyler. this is a company that's in a turnaround. when a company is in a turnaround, i think you must give the ceo a chance. in this case, he came out and he said from the start, it's going to take two or three years or a number of years. >> he's only been there 13 months. herb, i know you're a tough trader. he seems like such a nice man. >> he seems like a really nice man. he's engaging. nice and execution are two separate things. he is really trying to recreate a major retailer. no one has really done it quite like that. will he be able to do it? he could end up as a best ceo down the road. >> no
ron johnson of jcpenney. this is a company that had a tremendous number of blunders right out of the gate with just overall optimistic sales and earnings guides. i have no idea why anyone in a turnaround company would have sales or earnings guides. last quarter 26% decline in comp store sales, really had people wondering if this could ever be turned around. the one defense i must mention. i must mention this to you, tyler. this is a company that's in a turnaround. when a company is in a...
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Dec 18, 2012
12/12
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penney's ron johnson. his sin, way too optimistic in offering up guidance on what supposedly is a turnaround. the result of a promising and underdelivering. the reason he's not winner of this list is because you have to give him a chance to see if he can actually pull penney out of the hole. next is really a tough one, one i really anguished over and thought this guy might be number one and that is steve ballmer of microsoft. after years of missteps and playing follow the leader and the windows part of business, which is really only 25% of revenue, windows 8 was the trigger. it just simply hasn't knocked the cover off the ball, and that's after years, as i say, of missteps in this side of the business. in the end, however, the worst ceo easily is groupon's andrew mason. this has been nothing short of a disaster. and from a ceo standpoint i would suspect many would look at him and say a joke, an expensive joke for those who bought in early on the stock, and as i've previously said, this now appears to be a
penney's ron johnson. his sin, way too optimistic in offering up guidance on what supposedly is a turnaround. the result of a promising and underdelivering. the reason he's not winner of this list is because you have to give him a chance to see if he can actually pull penney out of the hole. next is really a tough one, one i really anguished over and thought this guy might be number one and that is steve ballmer of microsoft. after years of missteps and playing follow the leader and the windows...
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Dec 15, 2012
12/12
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jcpenney because of the attempt to turn the company around by ron johnson, the guy who created the apple store, and best buy because its founder seems hellbent on taking the company private. penney was on the ropes until recently when we learned from manny tirico, right here, the terrific ceo of pvh, phillips venue and izod, you know all those great brands, tommy, calvin klein, that penney's has started to order a ton of merchandise from pvh for its store within a store. in fact, his comments marked the bottom in the stock. as i pointed out at the time, i shopped jcpenney on tuesday and it was actually quite nice. i had lost this really good hat. if anyone knows my hat, please give it back to me. i went to buy it and they were all out of them. at $21 jcpenney can go higher even without additional news. best buy, i think the fundamentals here are on the decline. it feels terminal to me. so it seems a little ridiculous to own the stock. just as i think it's a little ridiculous that schultz, the founder, can get the financing to make the takeover that he so desperately seems to want to do.
jcpenney because of the attempt to turn the company around by ron johnson, the guy who created the apple store, and best buy because its founder seems hellbent on taking the company private. penney was on the ropes until recently when we learned from manny tirico, right here, the terrific ceo of pvh, phillips venue and izod, you know all those great brands, tommy, calvin klein, that penney's has started to order a ton of merchandise from pvh for its store within a store. in fact, his comments...
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Dec 27, 2012
12/12
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what is remarkable to me, stephen weiss, is that a lot of analysts are finally getting behind ron johnson and his style, because jcpenney has reverted back to its promotion always, which didn't work in the first place. >> it's mind boggling he still walks around with a halo. why you would ever want to go near this stock, even if they turn it around, it still selling at 20 times fiscal numbers. going to have to raise equity, versus now given what we've seen, the carnage. you have macy's at less than ten times next year and there's no turn around. so, why buy it? i still say sell it. ten bucks written all over it. go somewhere else. >> are you with weiss? >> i'm not in jcpenney at all right now. i'm long macy's. when you look at jcpenney, i want to short the name. so, you saw when it started to rally back about four months ago, it went from 26 to 31 on a rumor. that's short covering there. so, this is a tough name to be short. because there's so much short -- >> i'm no longer short. i covered in the high teens. >> the one thing we didn't mention on yesterday's show was the long, the pending
what is remarkable to me, stephen weiss, is that a lot of analysts are finally getting behind ron johnson and his style, because jcpenney has reverted back to its promotion always, which didn't work in the first place. >> it's mind boggling he still walks around with a halo. why you would ever want to go near this stock, even if they turn it around, it still selling at 20 times fiscal numbers. going to have to raise equity, versus now given what we've seen, the carnage. you have macy's at...
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Dec 27, 2012
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a big year ahead for ceo ron johnson, leads us to craig johnson's list of disappointments, ron johnson's old employer, apple, outside the apple store in the grove yesterday in l.a., yes, you heard me, he dissed apple. well, kind of. a little. >> apple's been -- has had a tremendous success story for any number of years now, but we think in terms of traffic and what we see at the stores, things have peaked out a little bit. so, they will still have a good season, still be up strong double digits but wouldn't be the outsized growth we have seen for any number of years now. >> all right. johnson also says sacks has struggled a bit, though he says the shoe department has been fine. overall holiday growth sales blow ducks is still 2.8% but he says to meet that sales this week today, tomorrow and the weekend have to hit it out of the park, otherwise, he says close to 2%. compared to 5.8% growth a year ago. >> jane, thank you. i was doing some of my own personal channel checks yesterday at saks, they had to shut the shoe department in new york city the shoe department entire store, shut it down
a big year ahead for ceo ron johnson, leads us to craig johnson's list of disappointments, ron johnson's old employer, apple, outside the apple store in the grove yesterday in l.a., yes, you heard me, he dissed apple. well, kind of. a little. >> apple's been -- has had a tremendous success story for any number of years now, but we think in terms of traffic and what we see at the stores, things have peaked out a little bit. so, they will still have a good season, still be up strong double...
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Dec 14, 2012
12/12
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ron johnson is a tea party guy. he wants to give on the president before the end of the year and go ahead, i guess pass a bill that would extend the rates for everyone and that wouldn't pass in the house and say, okay, fine, we'll do it for 98%. put that in the president's court, get that done and is use the debt ceiling for spending. >> exactly. no, that is -- >> but he's not getting anywhere with boehner and cantor? >> it's because boehner so far is not willing to go along with that strategy. the way that it works for boehner is if he ultimately puts it on the floor and tells most of his members that they have a chance to vote against it and make playing their opposition to any tax rate increase. but he hasn't been willing to do that so far. he would get some republicans to join with dm democrats and it would pass the house. but he doesn't want to put something on the floor that would clear the house without at least half of the republican members. spending is a sticking point, but there is an asymmetry in the neg
ron johnson is a tea party guy. he wants to give on the president before the end of the year and go ahead, i guess pass a bill that would extend the rates for everyone and that wouldn't pass in the house and say, okay, fine, we'll do it for 98%. put that in the president's court, get that done and is use the debt ceiling for spending. >> exactly. no, that is -- >> but he's not getting anywhere with boehner and cantor? >> it's because boehner so far is not willing to go along...
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Dec 18, 2012
12/12
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. >> senator, so last week, ron johnson and you and others said what we need to do, the house passes 98% and below, allows the top 2% to go up to 39.6. just what the president wants. and then we start talk pg about spending and entitlement cuts in light of the debt ceiling coming in in february? is that what you're talking about now? so we're going to -- >> we're going to have to see whether the rank and file that boehner tries to get, if they don't go along -- you're saying they should mutiny and not do this deal he wants to do now and do this other one that puts the onus back on the president next year to come to the table for entitlement cuts. is that what you're saying? >> i don't even think speaker boehner unless, again, something's happened early this morning, he's not even going to try to sell this deal because he knows that the offer that they've made is not real yet. in other words, again let me say the cuts are to be determined down the road, with another fiscal cliff, that's being created. so what i would hope, joe, is right now, we would go ahead and implement the entitle
. >> senator, so last week, ron johnson and you and others said what we need to do, the house passes 98% and below, allows the top 2% to go up to 39.6. just what the president wants. and then we start talk pg about spending and entitlement cuts in light of the debt ceiling coming in in february? is that what you're talking about now? so we're going to -- >> we're going to have to see whether the rank and file that boehner tries to get, if they don't go along -- you're saying they...
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Dec 24, 2012
12/12
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>> i think the things for jcpenney that even ron johnson would probably say the plan is a plan but it's going to shift depending on what consumer reaction is. and being able to be certainly offer consumers deeper value, whether it's $10 off, i think there's more new things that are going to happen that we don't even know about, but price is going to have to be addressed. >> dana, obviously we can't avoid talking about the fiscal cliff. payroll tax cut looks like it's going not to be extended. so that would mean that everyone that has a job is going to probably see at least $30 or $40 every paycheck starting in january. which companies are affected the most by that? is it the low end? or is it some place in the middle? or the high end doesn't matter? what would you say? what advice are you giving? >> i think the low end to the middle. i think we've already been seeing the beginnings of some of the low end having some pressures that we didn't see earlier in the year. but look what walmart said, their ceo talked about more of their consumers beginning to feel impacts that are being aware o
>> i think the things for jcpenney that even ron johnson would probably say the plan is a plan but it's going to shift depending on what consumer reaction is. and being able to be certainly offer consumers deeper value, whether it's $10 off, i think there's more new things that are going to happen that we don't even know about, but price is going to have to be addressed. >> dana, obviously we can't avoid talking about the fiscal cliff. payroll tax cut looks like it's going not to be...
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Dec 12, 2012
12/12
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johnson fuming. >> does speaker boehner speak for you? >> i don't know what he's doing behind closed doors, truthfully. nobody speaks for me, other than myself. >> reporter: but he told cnn, he won't filibuster a compromise that raises some taxes. >> we have to understand about our reality in some point in time, republicans have no power in this negotiation. there's only one person that can prevent taxes from being increased in the american public. it's the president. because without any action, without him being willing to sign a bill, taxes go up for every american. i don't want to see that happen. >> reporter: some conservatives who once had the power to say my way or the highway now realize the train has already left the station. some of these tea party republicans caution their new spirit of compromise largely depends on what the president proposes and a few of them remain convinced the president simply wants to take the country over the fiscal cliff, to gain the kind of leverage they used to have. jim acosta, cnn, washington. that w
johnson fuming. >> does speaker boehner speak for you? >> i don't know what he's doing behind closed doors, truthfully. nobody speaks for me, other than myself. >> reporter: but he told cnn, he won't filibuster a compromise that raises some taxes. >> we have to understand about our reality in some point in time, republicans have no power in this negotiation. there's only one person that can prevent taxes from being increased in the american public. it's the president....
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Dec 31, 2012
12/12
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alexis mcgill johnson. ron bonjean. thank you both. >> thanks so much. uma: well, if going off the fiscal cliff sound dangerous check out the action as this year's car jumping championship in west sussex, england. this is an wall competition where the goal is to try to jump over as many cars as possible. each jump is judged on height, applause from the crowd and distance. in the end it was 31-year-old john harbor took home the crown after clearing a total of nine cars. unbelievable. wow. jon: i think you have to get an old beatle with an engine in the rear. i'm just, what it looks like from me. i would do that. uma: i know you would. jon: i would try it. if car jumping isn't extreme enough for you how about a dip in the a frozen river? part of annual tradition in north even china. hundreds of people gather to honor the country's national swimming day and. they don't have a problem with the cold water but the air temperature, 18 below zero. that could be a little nippy. uma: indeed a refreshing little dip there. jon: that i would not do. uma: that you wou
alexis mcgill johnson. ron bonjean. thank you both. >> thanks so much. uma: well, if going off the fiscal cliff sound dangerous check out the action as this year's car jumping championship in west sussex, england. this is an wall competition where the goal is to try to jump over as many cars as possible. each jump is judged on height, applause from the crowd and distance. in the end it was 31-year-old john harbor took home the crown after clearing a total of nine cars. unbelievable. wow....